Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,555 $ 3,640
Accounts receivable 21
Prepaid expenses and other current assets 251 517
Mortgage note receivable, current portion 1,294 1,294
Total current assets 3,100 5,472
Property and equipment, net 287 280
Deposits 31 31
In process research and development 53,905 53,905
Goodwill 65,195 65,195
Total assets 122,518 124,883
Current liabilities:    
Accounts payable and accrued expenses 1,121 563
Derivative liabilities 905 1,476
Total current liabilities 2,026 2,039
Long-term liabilities    
Deferred rent 47 63
Deferred tax liability 20,462 20,462
Total long-term liabilities 20,509 20,525
Total liabilities 22,535 22,564
Commitments and contingencies
Common stock, $0.001 par value; 800,000 shares authorized; 714,032 issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 714 714
Additional paid-in capital 239,247 239,035
Accumulated deficit (139,978) (137,430)
Total stockholders' equity 99,983 102,319
Total liabilities and stockholders' equity $ 122,518 $ 124,883

Source

v3.7.0.1
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating expenses    
Research and development $ 2,071 $ 3,342
General and administrative 1,050 1,992
Total operating expenses 3,121 5,334
Loss from operations (3,121) (5,334)
Other income (expense)    
Interest income 2 49
Change in fair value of derivative liabilities 571 1,273
Total other income (expense), net 573 1,322
Net loss and comprehensive loss $ (2,548) $ (4,012)
Net loss per common share:    
Loss per share, basic $ (0.00) $ (0.01)
Weighted average common shares outstanding, basic 714,032,000 696,149,000
Loss per share, fully diluted $ (0.00) $ (0.01)
Weighted average common shares outstanding, diluted 714,032,000 697,272,000

Source

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities:    
Net loss $ (2,548) $ (4,012)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 26 56
Stock-based compensation 212 719
Change in fair value of derivative liabilities 571 1,273
Changes in operating assets and liabilities:    
Accounts receivable 21 (16)
Prepaid expenses and other current assets 266 (13)
Accounts payable and accrued expenses 558 499
Deferred rent (16) (2)
Net cash used in operating activities (2,052) (4,042)
Investing activities:    
Purchase of fixed assets (33) (18)
Principal payments received on mortgage note receivable 19
Net cash provided by (used in) investing activities (33) 1
Financing activities:    
Proceeds from issuance of common stock 5,004
Proceeds from exercise of stock options 3
Net cash provided by financing activities 5,007
Net increase (decrease) in cash and cash equivalents (2,085) 966
Cash and cash equivalents at beginning of period 3,640 9,276
Cash and cash equivalents at end of period 1,555 10,242
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Cashless exercise of warrants $ 35

Source